Frontier Communications Parent (NASDAQ:FYBR) Sees Large Volume Increase – Still a Buy?

Frontier Communications Parent, Inc. (NASDAQ:FYBR) shares saw an uptick in trading volume on Friday . 6,321,753 shares changed hands during trading, an increase of 154% from the previous session’s volume of 2,491,806 shares.The stock last traded at $35.85 and had previously closed at $35.95.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FYBR shares. New Street Research cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. Raymond James downgraded Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research note on Thursday, February 6th. Finally, Benchmark reiterated a “hold” rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $35.31.

Frontier Communications Parent Trading Down 0.5 %

The business’s fifty day moving average price is $35.77 and its 200 day moving average price is $35.31. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. The firm has a market capitalization of $8.93 billion, a PE ratio of -27.73 and a beta of 1.04.

Frontier Communications Parent (NASDAQ:FYBR) last released its earnings results on Thursday, February 20th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.28). Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.47 billion. As a group, analysts expect that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Insider Activity at Frontier Communications Parent

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of Frontier Communications Parent stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $36.01, for a total value of $1,296,360.00. Following the completion of the sale, the executive vice president now owns 76,523 shares in the company, valued at $2,755,593.23. The trade was a 31.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Frontier Communications Parent

Several hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in Frontier Communications Parent during the fourth quarter worth approximately $191,247,000. Tudor Investment Corp ET AL acquired a new stake in shares of Frontier Communications Parent during the 4th quarter worth $114,555,000. Adage Capital Partners GP L.L.C. raised its position in shares of Frontier Communications Parent by 472.7% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,149,714 shares of the company’s stock worth $109,295,000 after buying an additional 2,599,714 shares during the period. Sona Asset Management US LLC acquired a new position in Frontier Communications Parent in the fourth quarter valued at $51,179,000. Finally, FIL Ltd purchased a new stake in Frontier Communications Parent during the fourth quarter valued at about $49,228,000.

Frontier Communications Parent Company Profile

Frontier Communications Parent, Inc, together with its subsidiaries, provides communication and technology services in the United States. It offers broadband, video, voice, and other value-added services. The company also provides data and Internet, including broadband networking services; data-based voice over internet protocol, unified communications, long-distance, and voice messaging services; video services under the Frontier TV brand; access services; hardware and network solutions; and packages of services.